Finance
In Idaho, what is a 'home equity line of credit' (HELOC)?
AA fixed-rate home improvement loan
BA revolving line of credit secured by the equity in the borrower's home, allowing draws and repayments as needed up to a credit limit✓ Correct
CA second mortgage with fixed payments
DA government program for first-time buyers
Explanation
A HELOC is a revolving line of credit secured by the borrower's home equity. Borrowers can draw funds as needed (up to the credit limit), repay, and borrow again during the draw period.
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